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April 23, 2023 | Can The Euro Be Saved?

With all the talk about de-dollarization, this might be a good time to consider the world’s second reserve currency, the euro. Spoiler alert: It’s not a pretty picture, and Germany, believe it or not, is largely to blame. It didn’t have to be this way For most of the post-WWII era, Germany was the country that got it […]

April 23, 2023 | It’s All Good, Sort of…

Readers will be pleased to hear that Alissa Heinerscheid, the Anheuser-Busch marketing whiz responsible for featuring Dylan Mulvaney’s unwholesome mug on cans of Bud Light, appears to have lost her job. A-B reportedly put Heinerscheid on a leave of absence, replacing her with a senior executive.  Since the megabrewer is unlikely to promote Alissa, and […]

April 23, 2023 | Twitter Corruption Went Deeper Than We Thought

  We knew Twitter was corrupt before the Musk takeover. We knew that Twitter had verified fact-checkers and the ability to de-platform individuals of power, such as then-President Trump. Yet, this piece of information has been swept under the rug. The government had backdoor access to view every user’s private messages. All of them! “The degree […]

April 23, 2023 | Still Rethinking the Fed

Back before clocks went digital, you could say “a stopped clock is right twice a day” and even youngsters would know what you meant. A mechanism could be nonfunctional but occasionally correct. So it is with the Federal Reserve and its leaders. They make many mistakes but sometimes get it right. They are doing so […]

April 22, 2023 | The Contagion of War

QUESTION: You have suggested that we will end up at war with China, Russia, North Korea, and even Iran simultaneously. How does Socrates conclude such an event that perhaps never happened in the past? ER ANSWER: Your assumption that such a thing has never happened is not correct. Periods of war of this nature unfold […]

April 22, 2023 | Trading Desk Notes For April 22, 2023

Stock indices stuck in a narrow range For most of April, the premiere American stock indices have been stuck in a narrow range as economic data and Fed speakers deliver mixed signals. Volatility metrics are at or below one-year lows, and some folks view 5%+ money market yields as a better investment than stocks. While American indices drift quietly sideways, European, Japanese […]

April 22, 2023 | Back to ZIRP?

Good big picture discussion in this segment. When today’s guest was last on this program in early February, he warned that markets were “in La La Land” — meaning they were too optimistic at a time the macro data was warning of an approaching recession. Well, here we are, a quarter later and — after […]

April 22, 2023 | This Week in Money

April 22, 2023 | Tech Talk for April 22nd 2023

The Bottom Line Focus this week is on quarterly reports: Four of the biggest market cap companies in the U.S. are scheduled: Microsoft and Alphabet on Monday, Meta Platforms on Wednesday and Amazon on Thursday. In addition, six Dow Jones Industrial Average companies are scheduled to report. Most quarterly reports released to date have nicely […]

April 21, 2023 | Goofy Conclusions From the Silver Institute

(Here’s brief excerpt from Wednesday’s article to subscribers) Hot off the press is today’s just-released world annual silver survey from the Silver Institute. As previewed a couple of months back, the Institute is reporting flat total supply (mining plus recycling) and sharply increased demand growth of 18% or 186 million oz, resulting in the highest […]

April 21, 2023 | Is Everybody Lying?

It took a while, but some of the biggest “official narrative” scams and cons of the past few years are finally being exposed. High-ranking US officials have apparently been lying about public health, election integrity, and (of course) war. Among the things that have just come to light: The Secretary of State created the laptop letter […]

April 21, 2023 | U.S. Recession is Coming

A recession in the US is inevitable; probably coming later this year. The increase in interest rates that came from a surge in inflation guarantees that the consumer will reduce spending, probably pushing the economy into recession. Many analysts and economists are now accepting the inevitability of a new recession which may have started already. […]

April 21, 2023 | Canadian Stock Buyers Paying up for Negative Earnings

About 200 companies in the TSX Composite index are expected to report Q1 earnings over the next month. Although it’s typical for companies to “beat” lowered earning estimates, the earnings trend is recessionary, with a second sequential quarter of negative growth in 10 of 11 sectors. See Factset, Canada Earnings Season Preview Q1 2023: Analysts lowered […]

April 21, 2023 | A Very Interesting Year in Commodities

US institutions lose depositors looking for better returns

April 21, 2023 | RecycLiCo™ Battery Materials CEO Discusses Recent Company and Industry News

Watch – We upcycle cathode scraps and black mass into higher-value battery materials! Read the Latest News. Read Reuters Article – “Chile Plans To Nationalize its Vast Lithium Industry“. Read The Korea Economic Daily Article – “S.Korea To Inject $15 Billion in Rechargeable Battery Sector by 2030“. Read CTV News Article – “Industry Minister Defends […]

April 20, 2023 | Chicago Prepares for Second Weekend of Mayhem

Hundreds of teens stormed the streets of Chicago last weekend, wreaking havoc on the crumbling city. People were assaulted, shot, there was countless property damage, and Mayor-Elect Johnson completely sided with the criminals. Johnson made excuses for their bad behavior, and while a few arrests were made, Johnson has done absolutely nothing to prevent this […]

April 20, 2023 | Housing Market Takes Another Step Back: Home Prices Drop Year-over-Year for Second Month. Already Dismal Sales Fell

The median price of all types of previously owned homes – houses, condo, co-ops – whose sales closed in March, fell year-over-year by 0.9% to $375,700, according to the National Association of Realtors. This was the second year-over-year decline in a row since February 2012, when the market emerged from Housing Bust 1 (historic data […]

April 20, 2023 | Jacobson: Renewable Energy Here and Now

Mark Z. Jacobson’s latest book No Miracles Needed. How today’s technology can save our planet and clean our air lays out the facts on why and how we transition to more efficient, cheaper, cleaner energy. He offers an excellent overview in the presentation below and answers common questions and concerns at the end. Well worth listening! Understand the […]

April 20, 2023 | AI, Gold, Bitcoin, Mortgages, Cash

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April 20, 2023 | Gold, Silver, Crude Oil, Robots

Labour Shortage, OPEC

April 20, 2023 | Market Bubble, Real Estate, Gold, US Dollar

Crude Oil, Interest Rates, Inflation, Cash

April 19, 2023 | Recession Watch: Cars and Houses Join The List

Banks were already tightening lending standards before Silicon Valley Bank imploded. This chart is from Q4 2022:   Since then the tightening has become a full-fledged rout. It’s now much harder to get a mortgage or a car loan, especially for less-credit-worthy borrowers in overheated markets. Meanwhile, interest rates are rising again, with the average 30-year fixed-rate […]

April 19, 2023 | DiMartinio-Booth: The Credit Crunch is Ahead

Believe it or not, the violent monetary tightening of the last 13 months has only started to be felt throughout the economy. Job losses are just beginning to drive the lagging unemployment rate up from cycle lows. As risk markets rebounded of late (again) in the prospect of coming rate cuts, the credit crunch lies […]

April 19, 2023 | The Richest Man in the World

Bernard Arnault has unseated Elon Musk and Jeff Bezos to become the richest man in the world. The CEO and chairman of LVMH Moet Hennessy Louis Vuitton is estimated to be worth $235.7 billion. That is more than the entire GDP of some countries. Musk is now in second place with a net worth of […]

April 18, 2023 | New Home Buyers Penalized for High Credit Scores

Fannie Mae and Freddie Mac are making some changes to Loan Level Price Adjustments (LLPAs) that will likely hurt those with good credit applying for conventional loans in the US. To ensure “fairness,” the agencies are helping “underserved” first-time home buyers by reducing costs for those with lower credit scores and less money for down […]

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